Getting the new iPhone while still under contract w/ the old one?

Does anyone know if ATT will replace your existing contract with a new 2yr contract or extend your contract an additional 2 yrs if you bought the iphone last year? And will you also be able to take advantage of the $200 subsidies?

Yes, AT&T will replace your existing account with a new two year contract. And yes, that means you can take advantage of the subsidies.

Some say it will not extend your contract. Much like when the 16gb iPhone came out and people upgraded.

http://www.macrumors.com/2008/06/09/atandts-iphone-3g-data-plan-and-no-longer-revenue-sharing/

It's not really an extension, it's a whole new plan. So you don't get two years tacked on to your current plan, you just get a two year plan. AT&T needs to do this to force the extra $10 a month as they legally can't add it to your existing account.

does that mean you will have to have a new phone #?

No, you could keep your number.